KARACHI, May 21: The shareholders in Security Stock Fund Limited (SSF) would be entitled to nine shares in BSJS Balanced Fund Limited (BBF) for every ten shares in SSF. ABAMCO, the investment adviser of BBF stated in a press release issued on Tuesday.

This follows the sanction of the Sindh High Court to the merger of the two Funds.

ABAMCO stated that in accordance with the listing regulations of the stock exchanges, the book closure date for shareholders of SSF would be announced shortly, then BBF would exchange its shares with those of SSF.

With the merger of SSF, the paid-up capital of BBF would be raised to Rs340 million. ABAMCO claimed that SSF was the second largest closed end mutual fund in the private sector in terms of paid-up capital and largest in terms of value of net assets.